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Drug prices rise: report
Prices increase when competing drugs are pulled from the market, article says.
June 6, 2005: 9:08 AM EDT

NEW YORK (CNN/Money) - Prescription drug prices rose after competing products were taken off the market, USA Today reported.

Retail prices for painkiller Mobic rose 7 percent to 11 percent, depending on the dose, from September through March, according to the paper, which cited Consumer Reports. In September, Merck & Co. (down $0.14 to $32.09, Research) withdrew rival drug Vioxx, citing health concerns. Mobic is produced by Boehringer Ingelheim Pharmaceuticals and distributed in the U.S. by Abbott Laboratories (up $0.01 to $48.27, Research).

Wholesale prices for Avonex jumped in May by 8 percent, and Copaxone rose 9.4 percent, according to the news report. Avonex is made by Biogen Idec (down $1.67 to $36.40, Research) and Copaxone is produced by Teva Pharmaceutical Industries Ltd. (down $0.63 to $33.14, Research) In February, the multiple sclerosis drug Tysabri, from Biogen Idec and Elan Pharmaceuticals (up $0.18 to $7.03, Research), was pulled from the market because of health concerns.

Other painkiller prices also rose, the article said, with Motrin up 3.9 percent to 13.3. percent. The report cited retail sales data from market researcher NDCHealth.

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